Can I retire at age 56 with 3,700,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $3,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$305,543$302,821$300,166$297,574$295,043$288,262
2 years$151,259$148,442$145,711$143,064$140,497$133,702
3 years$99,837$97,008$94,285$91,663$89,137$82,541
4 years$74,132$71,311$68,615$66,038$63,573$57,227
5 years$58,713$55,909$53,248$50,723$48,327$42,249
6 years$48,436$45,654$43,033$40,564$38,240$32,435
7 years$41,099$38,340$35,760$33,350$31,099$25,569
8 years$35,599$32,864$30,328$27,976$25,800$20,543
9 years$31,323$28,614$26,121$23,830$21,727$16,738
10 years$27,904$25,222$22,773$20,541$18,513$13,787
11 years$25,109$22,454$20,049$17,877$15,921$11,453
12 years$22,781$20,153$17,793$15,681$13,797$9,578
13 years$20,813$18,213$15,897$13,844$12,031$8,054
14 years$19,128$16,555$14,283$12,289$10,547$6,803
15 years$17,668$15,123$12,896$10,960$9,286$5,767
16 years$16,392$13,875$11,692$9,813$8,207$4,904
17 years$15,268$12,779$10,639$8,817$7,277$4,181
18 years$14,269$11,808$9,712$7,946$6,470$3,572
19 years$13,377$10,944$8,891$7,180$5,767$3,057
20 years$12,575$10,169$8,160$6,503$5,151$2,620
21 years$11,850$9,472$7,506$5,902$4,610$2,249
22 years$11,192$8,842$6,917$5,366$4,132$1,932
23 years$10,593$8,270$6,387$4,887$3,709$1,662
24 years$10,044$7,748$5,907$4,457$3,334$1,431
25 years$9,539$7,271$5,471$4,070$3,000$1,232
26 years$9,074$6,834$5,074$3,722$2,702$1,062
27 years$8,645$6,431$4,712$3,407$2,436$916
28 years$8,246$6,060$4,380$3,121$2,198$790
29 years$7,876$5,717$4,076$2,862$1,985$682
30 years$7,532$5,399$3,797$2,627$1,794$589
31 years$7,210$5,104$3,540$2,413$1,622$508
32 years$6,909$4,830$3,303$2,217$1,467$439
33 years$6,626$4,574$3,084$2,039$1,328$379
34 years$6,361$4,335$2,881$1,876$1,202$328
35 years$6,112$4,111$2,694$1,727$1,089$283
36 years$5,876$3,902$2,520$1,590$986$245
37 years$5,655$3,706$2,359$1,465$894$212
38 years$5,445$3,522$2,209$1,351$810$183
39 years$5,247$3,349$2,069$1,245$735$158
40 years$5,058$3,187$1,940$1,149$667$137
41 years$4,880$3,033$1,819$1,060$605$118
42 years$4,711$2,889$1,706$978$549$102
43 years$4,550$2,753$1,601$903$498$88
44 years$4,396$2,624$1,503$834$452$76
45 years$4,250$2,502$1,411$770$410$66
46 years$4,111$2,387$1,325$711$373$57
47 years$3,978$2,278$1,245$657$338$49
48 years$3,850$2,174$1,170$607$307$43
49 years$3,729$2,076$1,100$561$279$37
50 years$3,612$1,984$1,034$519$253$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $3,700,000, adding $4,342 every year, while hoping to spend $48,983 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 80/6/14 Blend
55$3,700,000$3,700,000$3,700,000$3,700,000
56$4,081,879$3,885,779$3,828,429$4,396,691
57$4,446,113$4,024,064$3,904,564$4,742,569
58$4,845,857$4,167,484$3,981,607$5,115,305
59$5,284,682$4,316,238$4,059,538$5,522,962
60$5,766,520$4,470,535$4,138,334$5,969,019
61$6,295,704$4,630,590$4,217,967$6,457,304
62$6,877,006$4,796,629$4,298,409$6,992,036
63$7,515,684$4,968,887$4,379,629$7,577,859
64$8,217,529$5,147,608$4,461,592$8,219,890
65$8,988,923$5,333,047$4,544,261$8,923,766
66$9,836,895$5,525,468$4,627,596$9,695,695
67$10,769,190$5,725,148$4,711,552$10,542,515
68$11,794,341$5,932,373$4,796,082$11,471,761
69$12,921,747$6,147,443$4,881,135$12,491,731
70$14,161,768$6,370,670$4,966,654$13,611,569
71$15,525,813$6,602,377$5,052,582$14,841,347
72$17,026,456$6,842,905$5,138,855$16,192,162
73$18,677,551$7,092,603$5,225,403$17,676,240
74$20,494,362$7,351,841$5,312,154$19,307,049
75$22,493,705$7,621,000$5,399,029$21,099,429
76$24,694,112$7,900,478$5,485,946$23,069,730
77$27,116,002$8,190,692$5,572,816$25,235,967
78$29,781,871$8,492,073$5,659,542$27,617,988
79$32,716,511$8,805,073$5,746,025$30,237,660
80$35,947,236$9,130,162$5,832,158$33,119,081
81$39,504,144$9,467,830$5,917,825$36,288,798
82$43,420,401$9,818,588$6,002,907$39,776,066
83$47,732,551$10,182,969$6,087,274$43,613,117
84$52,480,864$10,561,527$6,170,790$47,835,468
85$57,709,712$10,954,841$6,253,311$52,482,254
86$63,467,990$11,363,516$6,334,685$57,596,597
87$69,809,577$11,788,180$6,414,749$63,226,013
88$76,793,843$12,229,490$6,493,332$69,422,859
89$84,486,211$12,688,131$6,570,254$76,244,830
90$92,958,771$13,164,816$6,645,324$83,755,499
91$102,290,963$13,660,289$6,718,340$92,024,917
92$112,570,327$14,175,329$6,789,090$101,130,278
93$123,893,325$14,710,745$6,857,349$111,156,642
94$136,366,254$15,267,382$6,922,881$122,197,741
95$150,106,251$15,846,122$6,985,436$134,356,860
96$165,242,392$16,447,885$7,044,751$147,747,816
97$181,916,916$17,073,633$7,100,551$162,496,026
98$200,286,566$17,724,365$7,152,544$178,739,696
99$220,524,065$18,401,128$7,200,424$196,631,120
100$242,819,750$19,105,013$7,243,868$216,338,123